Japan’s top trade negotiator reportedly cancels U.S. trip

Japan’s best trading negotiator Ryosei Akazawa canceled a trip to the US on Thursday on issues related to the US-Japanese trade agreement.

In a statement, Japan’s chief cabinet secretary Yoshimasa Hayashi said his trip would include discussion of US tariff measures.

“However, during the coordination with the United States, certain points required more technical debate, the journey was canceled and the discussions would continue at the administrative level,” Hayashi said. He said.

Japanese Media Organization Kyodo said news It was not decided that he would plan and plan the journey again. Reuters said that Akazawa could cope At the beginning of the week after the resolution of extraordinary problems, Washington refers to an anonymous government.

Hayashi said that Tokyo would call the United States to change the presidential order for mutual tariffs as soon as possible and ask Washington to give a presidential order to lower tariffs on cars and automobile pieces.

The White House is executive order Determining the Base line tariff ratio for Japan as 15%, but for cars, there was no written approval that reduces the tariff rate to 15%compared to 25%.

Akazawa Reported in July He promised the US order to execute the executive order in Japan in a way that includes a “pile -free” arrangement, where tariffs will not accumulate over 15%. This would be similar Regulation made with the European Union.

“We have confirmed that the sincere and rapid implementation of the Japan-US agreement with the United States and the United States is vital,” Thursday. He said.

Separately, Bank of Japan Board Member Junko Nakagawa He said it on Thursday Although the tariff negotiations between the two sides resulted in an agreement, many uncertainties remained.

Authorized, export and industrial production is expected to be adversely affected in Japan “for now” and the US tariffs will be a “reactionary decline” in the light of the light of the loading.

Corporate profits are also expected to decrease mainly in the manufacturing sector, Nakagawa said, “The increase in US tariffs and the slowdown in overseas economies reflect the effects of deterioration in export profitability,” he said.

Reuters had reported before The details of Japan’s $ 550 billion investment package for the United States was a written approval of the US $ 550 billion investment package for the US on the agenda for Akazawa’s trip.

This US Trade Secretary Howard Lotnick said in a FOX News interview on Monday, the United States will make an announcement about the package.

The $ 550 billion package was announced as part of Tokyo’s agreement with the US in July, which fell from 25% to 15% in Japanese exports. Tariffs in Japan’s key automobile sector fell to 15%.

However, over the investment package of $ 550 billion has emerged and the Trump package launched “our money to invest as we wish”.

“Some people say that Japan is only over 550 billion dollars,” in question After the trade agreement has been announced. According to the Reuters report on July 25, “However, such claims are completely except for the sign.”

In Akazawa Reported. While accepting the US desire to contribute to a greater share, it would be divided between Japan and the United States, according to the degree of both sides’ contributions.